India Cements mulls export option

The company expected a revival in demand in the coming quarters, driven by rural markets and government spending on infrastructure.

India Cements is contemplating exports to reap the benefits of a falling rupee as also improve capacity utilisation at its plants, according to N. Srinivasan, Vice-Chairman and Managing Director of the company.

Addressing shareholders at the annual general meeting here on Wednesday, Mr. Srinivasan said the company was taking all necessary measures at the operational level to improve the working results in the remaining part of the current fiscal. The company expected a revival in demand in the coming quarters, driven by rural markets and government spending on infrastructure.

Against the backdrop of difficult economic situation, the company could achieve a satisfactory performance in 2012-13 with cement production growing by 5 per cent to 99.40 lakh tonne. The performance would have been better but for the worsening power situation in Andhra Pradesh, Mr. Srinivasan said.

During the first quarter ended September 30, 2013, the company increased its clinker production by 15 per cent to 20.78 lakh tonne, and the volume of cement and clinker rose by 11 per cent to 26.49 lakh tonne.

During the year, the 48 MW-power plant at Sankarnagar went fully operational.

The company’s plans to move coal from its own mines in Indonesia took final shape, and the first shipment arrived in May. The company was also on the look out for other alternative fuels available at cheaper prices within the vicinity of the plant, Mr. Srinivasan said.